What Is the Tertiary Industry?

     The tertiary industry is a technical name for the services sector of the economy, which encompasses a wide range of businesses, including financial institutions, schools, hotels, and restaurants.

    The tertiary industry is one of three primary industrial types in a developed economy, the other two being the primary (i.e., raw materials), and secondary (i.e., goods production) industries. As an economy becomes more developed, it tends to shift its focus from primary to secondary and tertiary industries.